Aston Asset Management
, which is in the process of becoming part of Affiliated Managers Group
, has rolled out a small-cap fund sub-advised by fellow Chicagoan Fasciano Associates
. The Aston/Fasciano Small Cap Fund
, launched on December 23, is Aston's 25th offering. The fund has an expense ratio of 142 basis points.
"The industry is always in need of a good new small cap fund manager," said Joe Hayes
, who was recently promoted to the post of national sales manager at Aston, in an interview.
Aston has closed two small caps, the Aston/TAMRO Small Cap Fund
and Aston/River Road Small Cap Value Fund
, in the past year, and the new fund will round-out the firm's line up, Hays added.
While there are no specifics yet, be assured that Aston is thinking about its next fund.
"Strategically, we're adding one to two managers a year," Hays noted. "We hope to continue to grow as fast as we did last year."
According to the SEC filing
, Aston administers the fund, and PNC Global Investment Servicing
subadministers and acts as the transfer agent. Vedder Price P.C.
serves as legal counsel.
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